Economy, asked by jameschangsan, 19 days ago

Firms in a monopolistic competition make products that are


(a) close but not perfect substitutes

(b) perfect substitutes

(c) close but not perfect compliments


(d) perfect compliments​

Answers

Answered by llchummill
1

Answer:

In Monopolistic competition, firms do produce differentiated products, therefore, they are not price takers (perfectly elastic demand). They have inelastic demand.

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